Silver Monthly: Symmetric Triangle

Aibek Burabayev - INO.com Contributor - Metals


It’s amazing how an updates’ timing can coincide with an interesting chart pattern that’s shaping up or trendline reactions. This time I spotted a Symmetric Triangle pattern as I was preparing this monthly update. I am happy to share it with you in the chart below.

Chart 1. Silver Monthly (Zoomed): Symmetric Triangle

Silver Monthly ChartChart courtesy of tradingview.com

The market got stuck for more than one year inside of the black Symmetric Triangle pattern. It shows that neither bulls nor bears could change the balance of the market as price volatility on the monthly chart faded and we reached the apex of the triangle where the trendlines converge. Continue reading "Silver Monthly: Symmetric Triangle"

Gold Faces Multi-Year Resistance Again

Aibek Burabayev - INO.com Contributor - Metals


Monthly charts show major price development and are crucial in determining the long-term trends. It is slow to change and I update it once the price reaches the important level or makes a breakout or reversal. The last time I updated the monthly chart was last August when the price reached the multi-year trendline resistance.

I had assumed three possible scenarios of price action and the least interesting second scenario of consolidation plan worked. I had set the margins of consolidation within the $1100-1400 range and some readers thought it was too wide, but as you can see now it played out perfectly – the actual range is $1122-1367 for the past period.

The trendline resistance falls lower and lower in the long run and now the price meets it again. That’s why added an updated monthly chart below.

Chart. Gold Monthly: Crossroads

Monthly Gold ChartChart courtesy of tradingview.com

This time we have the same situation as in the past year. Last July the price had tried to push through the black resistance line, but failed and there was hope that in the next month the breakup could be done and we all know what happened next. Last month the price also tried to overcome the barrier but failed. Nevertheless, the hope is still there as always in such situations. This month’s candle tells us that the price first dropped down from the open at $1267 to $1214 low and is now reversing losses and is yet to cover them all. Continue reading "Gold Faces Multi-Year Resistance Again"

Gold & Silver: History May Repeat

Aibek Burabayev - INO.com Contributor - Metals


People record history from ancient times only to find that nothing is new in this world and everything repeats in cycles, waves, high and low tides, and therefore it is quite useful to have those historical records to project the future as it is another human propensity.

It is always a big challenge to be the first in doing something as you face uncertainty, and those who go next can learn from the achievements and mistakes of the pioneers. A few days ago, my eyes caught an interesting similarity in the chart history of gold’s price, which could give us a clue of an upcoming price development and I am happy to share it with you below.

As you may already notice from time to time I post different experimental charts, which use a variety of uncommon approaches in analyzing the markets to expand the scope of our vision. In this post I used the clones of the historic moves, which could shed light upon future moves.

I squeezed the charts to let both legs of the current upside move to fit in the snapshots, that’s why I would recommend you to open both graphs in a separate window for a comfortable view. Continue reading "Gold & Silver: History May Repeat"

Gold & Silver: Gold Is Looking For Support As Silver Is Testing Resistance

Aibek Burabayev - INO.com Contributor - Metals


We've entered the period where patience is paid generously as it is too early to buy the gold now and too late to buy the flying silver. I don't recommend a countertrend sell as corrections are very tricky and require an extensive experience. It is good just to sit back and watch the price action.

Chart 1. Gold Vs Silver 4H: Huge Divergence

4 Hour Chart Gold vs. Silver
Chart courtesy of tradingview.com

I refreshed the previous comparison chart, which starts from the low in the gold price established on the 10th of March.

Last week the gap between these top metals only widened with silver's gain almost exceeding two times that for the gold. The Gold/Silver ratio dropped severely from the 71.3 oz top (March, 23) to the 68.4 oz close last week losing almost all of the gains achieved in March. Continue reading "Gold & Silver: Gold Is Looking For Support As Silver Is Testing Resistance"

Gold & Silver: Gold Was Benched, Silver Is Still In The Game

Aibek Burabayev - INO.com Contributor - Metals


We should wait for the market to show us the way by moving the price on the chart with visible changes. I posted the fresh tactical map for both metals 2 weeks ago using the daily time frame. The market is moving within my expectations so far and I decided to post an update using lower time frame charts, which could supplement the picture as no big levels were triggered yet. It would be useful for those who are not yet in the game and are looking for fresh opportunities to enter.

I dedicated the very first chart to the comparison of top metals’ behavior as several times before we witnessed that one top metal signals upcoming changes in the market earlier than the other. Putting them side by side clearly shows the differences in their price behavior, not seen in the separate charts.

Chart 1. Gold Vs Silver 4H: Leader Vs Laggard

Gold vs. Silver Chart
Chart courtesy of tradingview.com

The starting period for the chart above was chosen for the low in gold price established on the 10th of March as silver dropped to a new 5 day low later on the 15th of March. It was the first good signal for silver bugs to keep the metal as gold didn’t confirm that drop. Continue reading "Gold & Silver: Gold Was Benched, Silver Is Still In The Game"